Workers' Comp vs. Occupational Accident Insurance text overlaying construction workers

Workers’ Comp vs. Occupational Accident Insurance

One of the most important concerns for both workers and businesses is the health and safety of their workforce. Workers' compensation insurance and occupational accident insurance are two important insurance policies. They each come into play when it comes to the protection and safety of the workplace. In spite of the fact that both are…

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How Employee Fatigue Affect Workers' Comp text overlaying image of a tired worker

How Employee Fatigue Affect Workers’ Comp

Employee fatigue has become a major worry for both workers and employers in today's fast-paced and demanding work environments. Employee hours are increasing longer as our economy demands more and more from its workers. This frequently implies that employees can work much beyond the regular work week, putting them at risk of tiredness and fatigue.…

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Claims-Made vs. Occurrence Policies text overlaying image of two different color buttons

Claims-Made vs. Occurrence Policies

When it comes to buying insurance for your business, not knowing the difference between claims-made and occurrence plans can be an expensive error. Getting a claims-made or occurrence policy will have a significant impact not just on the cost of your coverage. But also, on the lifecycle of your coverage. Professional liability and directors and…

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How Is My Commercial Property Insurance Premium Calculated? text overlaying image of a bag of money and wooden buildings

How Is My Commercial Property Insurance Premium Calculated?

Almost any time of the year, fires, floods, storms, hurricanes, and many other disasters can cause a lot of damage to homes and businesses. One of the first things a business owner should do to protect their investments from natural disasters is buy business insurance, specifically commercial property insurance. Commercial property insurance is a type…

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Commercial Property Package: What You Need To Know text overlaying image of an insurance agent and a business owner speaking in a warehouse

Commercial Property Package: What You Need To Know

A commercial package policy (CPP) is a type of insurance policy that covers various dangers, such as liability and property risk. A commercial package policy enables a company to receive insurance coverage in a flexible manner. CPPs also offer the advantage of allowing you to pay cheaper rates than if you got a separate policy…

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When Can Your Employees File For Workers' Comp? text overlaying an image of a work injury claim form

When Can Your Employees File For Workers’ Comp?

While workers' compensation covers most workplace injuries, there are a few exceptions. The workers’ compensation system is a no-fault system. Meaning, it makes no difference whether the injury was caused by you or your employee’s negligence. In general, all that matters is that your employee’s injury was directly caused by their job. However, there are…

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Endorsements For Business Insurance text overlaying image of a agent looking over an insurance contract

Endorsements For Business Insurance

"Commercial insurance endorsements" is a phrase that insurance companies and brokers frequently use, but few business owners understand what an endorsement is. An insurance endorsement (or rider) amends a commercial insurance policy by adding, removing, or excluding specific categories of coverage. It enables you to tailor your insurance to your specific demands or budget without…

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Professional VS Ordinary Negligence text overlaying image of a person under stress

Professional VS Ordinary Negligence

Any business can make mistakes, but companies that offer industry specific expert services or consulting are more vulnerable to negligence claims when they make a mistake. If your company gets sued due to a mistake or misleading information, it could hurt both your reputation and your bottom line. Negligence suits are one of the most…

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What Is An Assigned Risk Plan? text overlaying image of a bunch of hands holding pieces of a puzzle

What Is An Assigned Risk Pool?

An assigned risk plan is a workers compensation plan set up by the state for businesses that cannot get a workers compensation plan from a ‘regular’ insurer. Plans with an assigned risk are also known as the leftover market or the assigned risk pool. This safety net is the last option for employers who don't…

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What Is a Workers' Compensation Audit? text overlaying image of paperwork and a calculator

What Is a Workers’ Compensation Audit?

You know how important it is to have workers' compensation insurance if you run a business. More often than not, you legally have to have this kind of insurance. But workers' compensation is one of the hardest types of business insurance to understand and follow the rules for. Each state has its own rules about…

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Workers' Compensation For The Self-Employed text overlaying image of a self-employed woman in a cast looking at her policy

Workers’ Compensation For The Self-Employed

Although workers’ compensation is generally for employers to have for their employees it also covers you if you’re self-employed, such as an independent contractor. Just because you work for yourself doesn’t always mean workers’ compensation is optional for you. Almost every state requires that companies give workers' compensation insurance to their employees. Each state has…

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Workers' Compensation Insurance Vs. Disability Insurance text overlaying image of an injured construction worker

Workers’ Compensation Insurance Vs. Disability Insurance

Workers’ compensation and disability insurance are similar policies, but workers’ compensation covers both the company and the employee from injuries and illnesses that happen at work. While disability insurance covers an employee for medical problems that happen outside of work. Workers’ compensation insurance and disability both help workers who are sick or hurt and can’t work…

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How Workers' Compensation Handles Death Benefits text overlaying image of a construction worker

How Workers’ Compensation Handles Death Benefits

Workers' compensation insurance can help pay for medical care for workers who get sick or hurt on the job. But what happens if a person gets hurt on the job and dies because of it? If an employee passes away due to a work injury or illness, workers’ compensation provides death benefits that may offer…

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What To Avoid When Shopping For Business Insurance text over laying image of businessmen shaking hands

What To Avoid When Shopping For Business Insurance

Shopping for insurance for a small business can be difficult and time consuming, especially for new businesses. Your business insurance needs and risks vary a lot more than individual insurance does. Running a business can feel like walking through a trap, where every step could be a mistake. It's easy to spend too much on…

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making sense of E&O insurance &EPLI text overlaying image of a maze that says liability

Making Sense Of E&O Insurance & EPLI

Risk management is the core of commercial insurance. You know you have to protect your business from lawsuits, like if an employee is injured on company property, as well as from disasters such as fire or theft. However, not all damages are physical and not all claims are made by third parties. There are times…

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Creating A Safer Workplace text overlaying image of a work hat and dafety cone

Creating A Safer Workplace

A serious injury at work can have a big effect on you and your business. It’s more common than you might think. So far in 2023, employers have reported 4.26 million non-fatal workplace injuries. Even though that seems like a lot, the number of work injuries has been steadily decreasing. That’s because more and more…

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Can I Terminate an Employee On Workers' Compensation? text overlaying image of a worker leaving his job

Can I Terminate an Employee On Workers’ Compensation?

In the United States, workers’ compensation insurance protects employees who become ill or injured on the job. Reviewing and retrieving medical records is an essential process. It helps in finding medical evidence that lets the insurer make a fair decision about the workers’ compensation claim. An important consideration for any business is whether an employee…

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How Is A Workers’ Compensation Premium Calculated? text overlaying image of a business woman calculating

How Is A Workers’ Compensation Premium Calculated?

Your workers’ compensation premium is calculated with a formula that has 3 primary components. First the type of business you own, second your claims history, and finally, your total payroll. The formula is Payroll (per $100) x Class Code Rate x Experience Modifier (if applicable) + State Taxes & Fees = Premium. The National Council…

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